You are to complete the June 30 bank reconciliation for Huang, Limited using the following information: a) Outstanding checks: No. 181 $350 No. 184 $300 No. 185 $225 b) Check no. 142 (for Repair Expense) was written for $320 but erroneously recorded in Huang's records as $230. c) Deposit in transit $3,300 d) Note collected by bank as Huang’s agent (no interest) $2,000 e) NSF check ofI.M. Broke.. . $250 f) Bank service charge.. $30 Given: Use the following framework to prepare the bank reconciliation.

You are to complete the June 30 bank reconciliation for Huang, Limited using the following information: a) Outstanding checks: No. 181 $350 No. 184 $300 No. 185 $225 b) Check no. 142 (for Repair Expense) was written for $320 but erroneously recorded in Huang's records as $230. c) Deposit in transit $3,300 d) Note collected by bank as Huang’s agent (no interest) $2,000 e) NSF check ofI.M. Broke.. . $250 f) Bank service charge.. $30 Given: Use the following framework to prepare the bank reconciliation.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following items will not appear on the Books side of the reconciliation? A a non-sufficient funds check of $75 was returned to the bank and deduct it from the bank balance. Be a deposit was in transit in not yet deposited in the bank. See the bank charge a service fee of $20 on the bank statement. D the bank collected in notes receivable of $1000 for the business
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Using the following information, prepare a bank reconciliation. • Bank balance: $6,988 • Book balance: $6,706 • Deposits in transit: $1,770 • Outstanding checks: $599 and $1,423 • Bank charges: $75 • Bank incorrectly charged the account $75. The bank will correct the error next month. • Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense. Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance
Using the following information: Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35 and using the following accounts/items: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks you are to prepare a bank reconciliation: Bank Balance [ Select ] Book Balance [ Select] Add items: Add items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] Less items: Less items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select] [ Select ] Adjusted Bank Bal. [ Select ] Adjusted Book Bal. [ Select ] PLEASE NOTE: For the above reconciliation, if no dollar amount is needed, please use "$0" or if no item is needed, please use "None" - no quotation marks. You must enter the account and item names exactly as written above and all dollar amounts will be with "$" and commas…
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